SRTY vs. TZA
Compare and contrast key facts about ProShares UltraPro Short Russell2000 (SRTY) and Direxion Daily Small Cap Bear 3X Shares (TZA).
SRTY and TZA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SRTY is a passively managed fund by ProShares that tracks the performance of the Russell 2000 Index (-300%). It was launched on Feb 11, 2010. TZA is a passively managed fund by Direxion that tracks the performance of the Russell 2000 Index (-300%). It was launched on Nov 5, 2008. Both SRTY and TZA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SRTY or TZA.
Key characteristics
| SRTY | TZA | |
|---|---|---|
| YTD Return | -45.17% | -44.71% |
| 1Y Return | -68.53% | -68.25% |
| 3Y Return (Ann) | -21.69% | -20.75% |
| 5Y Return (Ann) | -49.57% | -48.96% |
| 10Y Return (Ann) | -41.06% | -40.71% |
| Sharpe Ratio | -1.06 | -1.05 |
| Sortino Ratio | -1.87 | -1.85 |
| Omega Ratio | 0.78 | 0.78 |
| Calmar Ratio | -0.69 | -0.68 |
| Martin Ratio | -1.43 | -1.43 |
| Ulcer Index | 47.76% | 47.56% |
| Daily Std Dev | 64.65% | 64.71% |
| Max Drawdown | -99.99% | -100.00% |
| Current Drawdown | -99.99% | -100.00% |
Correlation
The correlation between SRTY and TZA is 1.00, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
SRTY vs. TZA - Performance Comparison
The year-to-date returns for both investments are quite close, with SRTY having a -45.17% return and TZA slightly higher at -44.71%. Both investments have delivered pretty close results over the past 10 years, with SRTY having a -41.06% annualized return and TZA not far ahead at -40.71%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SRTY vs. TZA - Expense Ratio Comparison
SRTY has a 0.95% expense ratio, which is lower than TZA's 1.11% expense ratio.
Risk-Adjusted Performance
SRTY vs. TZA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short Russell2000 (SRTY) and Direxion Daily Small Cap Bear 3X Shares (TZA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
SRTY vs. TZA - Dividend Comparison
SRTY's dividend yield for the trailing twelve months is around 11.47%, more than TZA's 6.83% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
SRTY ProShares UltraPro Short Russell2000 | 11.47% | 4.93% | 0.16% | 0.00% | 0.95% | 2.12% | 0.70% | 0.04% |
TZA Direxion Daily Small Cap Bear 3X Shares | 6.83% | 5.49% | 0.00% | 0.00% | 1.21% | 1.57% | 0.63% | 0.00% |
Drawdowns
SRTY vs. TZA - Drawdown Comparison
The maximum SRTY drawdown since its inception was -99.99%, roughly equal to the maximum TZA drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SRTY and TZA. For additional features, visit the drawdowns tool.
Volatility
SRTY vs. TZA - Volatility Comparison
ProShares UltraPro Short Russell2000 (SRTY) and Direxion Daily Small Cap Bear 3X Shares (TZA) have volatilities of 24.07% and 24.00%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.